What are the charges involved with a purchase in Cape Verde?
A. There are a number of charges that must be paid when purchasing in Cape Verde and we would advise any potential buyers to seek the advice of there solicitor / accountant prior to signing the contract on any development. The reader should not forget to budget for the cost of management fees to cover the running of the complex, utility fees etc.
There are a small number of government fees that must be paid when purchasing property in Cape Verde. These include, an acquisition tax called the IUP; this is 3% of the purchase price and is paid at the time of the public deed. The public deed itself costs 1.5% of the purchase price and registration of the property with the local authority costs 1%. All these costs are subject to change. Another cost factor to remember would be solicitors fees, which can vary.
